ECONOMICS (CBSE/UGC NET)

ECONOMICS

INCENTIVES

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

The regular cost of a banana split is $4.89. Jose has a coupon for 1/3 off the regular price. How much would the banana split cost if he used the coupon?

A	$1.00
B	$32.60
C	$3.26
D	$1.62

Explanation:

Detailed explanation-1: -A percent off of a product means that the price of the product is reduced by that percent. For example, given a product that costs $279, 20% off of that product would mean subtracting 20% of the original price from the original price. For example: 20% of $279 = 0.20 × 279 = $55.80.

Detailed explanation-2: -The discount and markup can be calculated using the following formula: Discount = Original price – Sale price. Discount = Discount % × original price. Markup = Selling price – Cost to store.

Detailed explanation-3: -Original Price Formula To calculate the original price of an item, divide the sale price by the value of 1 minus the value of the percentage off divided by 100.

Detailed explanation-4: -Divide the number by 100 (move the decimal place two places to the left). Multiply this new number by the percentage you want to take off. Subtract the number from step 2 from the original number. This is your percent off number. 09-Jan-2023

There is 1 question to complete.